Listing debut for Indian gases firm

Refex Refrigerants, the specialist refiller and distributor of refrigerant gases in India, has listed shares on the Bombay Stock Exchange and debuted as part of its capacity expansion plans.

With branches throughout India, including Mumbai, Dehli and its Corporate Office at Chennai, Refex specialises in refrigerant gases and especially environmentally-friendly gases that are replacements for chloro-fluoro-carbons (CFC's).

The company refills hydro fluorocarbon refrigerants (HFC's) and has an installed capacity of refilling 40 metric tonne cylinders per month of HFC refrigerants. These Refex Refills Refrigerants are used primarily as refrigerants, foam blowing agents and aerosol propellants.

Planning to utilise the proceeds of the share listing to part finance its expansion, the company intends to increase installed capacity to refill 250 metric tonne cylinders per month.

On its opening day of listing, Refex's shares closed below the issue price at Rs 62 crore and at discount of 4.6 percent on the issue price of Rs 65, having earlier peaked at a high of Rs 73.80.

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